Macro Economics

Terms to know for this unit.
Absolute Advantage
Comparative Advantage
Trade Barriers
Protectionism
European Union
NAFTA
Rapid population growth
Resource distribution
Lack of physical capital
Lack of human capital
Political Factors
Colonial Dependency
Civil War/Social Unrest
Corruption
Debt
Globalization
Why do nations trade?
Fostering and Limiting Trade
Three Levels of Development
Developed Countries
Less Developed Countries
Newly Industrialized Countries
The Debt Issue
World Bank
International Monetary Fund
World Trade Organization
Macroeconomics